Miracle Mile Advisors LLC Purchases 90,611 Shares of Amazon.com, Inc. (NASDAQ:AMZN)

Miracle Mile Advisors LLC grew its position in Amazon.com, Inc. (NASDAQ:AMZN) by 42.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 304,569 shares of the e-commerce giant’s stock after purchasing an additional 90,611 shares during the quarter. Amazon.com makes up about 1.4% of Miracle Mile Advisors LLC’s investment portfolio, making the stock its 20th largest holding. Miracle Mile Advisors LLC’s holdings in Amazon.com were worth $66,819,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. State Street Corp raised its stake in shares of Amazon.com by 3.3% in the third quarter. State Street Corp now owns 359,179,990 shares of the e-commerce giant’s stock valued at $66,926,008,000 after acquiring an additional 11,370,309 shares during the period. Geode Capital Management LLC raised its stake in shares of Amazon.com by 3.4% in the third quarter. Geode Capital Management LLC now owns 199,915,046 shares of the e-commerce giant’s stock valued at $37,116,341,000 after acquiring an additional 6,545,944 shares during the period. Legal & General Group Plc raised its stake in shares of Amazon.com by 1.5% in the second quarter. Legal & General Group Plc now owns 69,686,374 shares of the e-commerce giant’s stock valued at $13,466,933,000 after acquiring an additional 1,042,177 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Amazon.com by 3.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 57,833,954 shares of the e-commerce giant’s stock valued at $10,776,201,000 after acquiring an additional 1,984,592 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Amazon.com by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 57,308,094 shares of the e-commerce giant’s stock valued at $10,678,217,000 after acquiring an additional 1,980,663 shares during the period. 72.20% of the stock is currently owned by institutional investors.

Amazon.com Price Performance

Shares of NASDAQ AMZN opened at $235.42 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.09 and a quick ratio of 0.87. The stock has a fifty day moving average price of $219.15 and a 200 day moving average price of $196.95. Amazon.com, Inc. has a 1-year low of $151.61 and a 1-year high of $235.52. The company has a market cap of $2.48 trillion, a PE ratio of 50.41, a P/E/G ratio of 1.29 and a beta of 1.14.

Amazon.com (NASDAQ:AMZN) last issued its quarterly earnings results on Thursday, October 31st. The e-commerce giant reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.29. Amazon.com had a return on equity of 22.41% and a net margin of 8.04%. The firm had revenue of $158.88 billion during the quarter, compared to the consensus estimate of $157.28 billion. During the same period last year, the company earned $0.85 earnings per share. The company’s revenue for the quarter was up 11.0% on a year-over-year basis. Sell-side analysts forecast that Amazon.com, Inc. will post 5.39 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AMZN. Tigress Financial upped their price target on shares of Amazon.com from $245.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, December 20th. Evercore ISI upped their price target on shares of Amazon.com from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. TD Cowen upped their price target on shares of Amazon.com from $240.00 to $265.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. Pivotal Research began coverage on shares of Amazon.com in a report on Friday, October 11th. They issued a “buy” rating and a $260.00 price target on the stock. Finally, The Goldman Sachs Group increased their target price on shares of Amazon.com from $230.00 to $240.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a hold rating, forty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Amazon.com currently has a consensus rating of “Moderate Buy” and an average price target of $247.72.

Insider Buying and Selling at Amazon.com

In related news, CEO Douglas J. Herrington sold 3,500 shares of Amazon.com stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $210.00, for a total transaction of $735,000.00. Following the completion of the sale, the chief executive officer now owns 524,567 shares in the company, valued at approximately $110,159,070. This trade represents a 0.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jonathan Rubinstein sold 4,351 shares of Amazon.com stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $229.85, for a total value of $1,000,077.35. Following the completion of the sale, the director now owns 88,203 shares of the company’s stock, valued at $20,273,459.55. This trade represents a 4.70 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,032,344 shares of company stock valued at $1,253,456,822. 10.80% of the stock is owned by company insiders.

Amazon.com Company Profile

Amazon.com, Inc engages in the retail sale of consumer products, advertising, and subscriptions service through online and physical stores in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS). It also manufactures and sells electronic devices, including Kindle, Fire tablets, Fire TVs, Echo, Ring, Blink, and eero; and develops and produces media content.